Posted on 04/08/2024 8:59:17 AM PDT by SeekAndFind
Come on people, we have to pay for free housing, healthcare, food, education, bus and plane rides for illegals.
At this point Social Security is outright theft.
L
“It’s naïve to hope that the major parties would discuss such important fiscal matters in an election year (or any other year, really).”
And stupid to propose it.
SS will be fixed after it fails, not before.
Their current ‘solution’ is to kill off as many SS recipients as possible with the Vaxxes and the high inflation taking away their life savings......................
Modest? LOL
RE: SS will be fixed after it fails, not before.
That’s like saying we’ll fix the house after the termites have eaten most of the foundation instead of calling in the exterminators as soon as possible.
If it fails, its because a whole lot of payments go out to people who never paid into it.
“the changes are intended to “prevent Biden’s cuts to Social Security”
Anyone who thinks that’s the way it will play out is insane.
It’s always the (R)s, being the responsible ones in the room, messing with the third rail. And it’s always the (D)s putting it, w/ false spin, on the bulletin board and campaigning on it. Remember the Cadaver’s use of Rick Scott’s musings as “the policy of my opponents — not a joke; I have it here in writing”, ad nauseam.
The only way SS gets fixed is for it to implode. Sad, but it’s the truth.
I agree-—it’s another “tax” or “fee” that you can’t opt out, used as a slush fund and used for political pandering. That’s my money so give it back to me NOW!
The corruption of the Social Security system and misspending of funds there is THE BASIS for my problem with the Federal government.
First of all, it’s essentially fanciful to call 27% of the electorate a “major political party”. But I understand how difficult fringe status is to accept.
Second, it works like this. Money comes into SS and money goes out. That balance of flow has been negative for some time. The way the total benefits are still being paid is via the accumulated Trust Fund of decades past.
That Trust Fund will hit zero in about 7 years.
At that point, theoretically, outflow will be limited to tax influx. This will be about a 25% cut in benefits (outflow).
Here are the proposals to fix it:
1) Raise the retirement age for FRA (Full Retirement Age). This has happened before. It’s not a new proposal.
2) Increase the FICA rate on currently working people.
3) Reduce benefit payout. That 25% mentioned above would be the number only if the reduction is evenly distributed across the entire population of people receiving SS. Odds are about 99% any such benefit reduction would be concentrated at the higher end of income and NOT evenly distributed.
4) Raise the income/salary limit at which FICA is no longer collected.
5) Increase the population of Soc Sec payers. This does not have to mean more immigration. There are many state government employees and teachers who are not in the Soc Sec program, but if you add them in order to collect more FICA, then those people will one day add to benefits collection.
6) A combination of above.
Something akin to Algore's "lockbox" is needed to make sure that today's Social Security surplus is held in reserve for future shortfalls in the program.
This raises the deficit because Congress can't raid the Social Security piggybank and spend the money elsewhere, leaving nothing but worthless IOUs in the Social Security acount. But it will ensure that Social Security remains solvent for a much longer time.
Another way to extend the life of Social Security is to means-test for payout of benefits, and remove the cap on the amount of income that has to pay Social Security tax, which is currently limited to the first $160,200.
it is a 100% CERTAIN political loser.
100% certain.
Why piss into the wind? So you can virtuously claim you’re doing the right thing even though nobody will join you?
A lot of good could be done by conservatives while they wait out the ultimate failure of SS. But if they try to “fix it” they’ll not have the opportunity to do any good whatsoever.
A recent American tinker article suggested it cannot be done during an election season. Can’t even be brought up as a topic. They’ll have to do it only after a majority in both houses is won including the WH. W tried it after his ‘04 victory.
There will be no help from the generation Z’s. It will effect them the most but they’re out to lunch. Perhaps an election year promise to eliminate taxes on SSI.
Would it work with a filibuster?
Don’t all Illegals get Social Security as soon as they show up in the US no matter what age ?
SCOTUS has ruled repeatedly that it is not “your” money and that SS is just another tax no matter what the politicians say. The government is under no legal obligation to give any of us one red cent.
L
It’s all lies, all produced and directed by the corrupt running government who looted, subverted and destroyed everything.
I want every nickel I put into social security. No cuts. Cutting what I am entitled to get is theft.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.